Divisia monetary aggregates and money demand for Malaysia

Divisia M1 and M2 are constructed for Malaysia. Unlike M1, Divisia M2 shows significant differences in both level and growth rates from its simple sum counterpart. We also compare these Divisia measures to simple sum M1 and M2 in a money demand function. Using error correction models, we examine short-run dynamics between these monetary aggregates and money demand determinants such as inflation, domestic and foreign interest rates, financial wealth, and income. We find that Divisia M2 is the most appropriate monetary aggregate of the four candidates to track money demand in Malaysia and should be used when conducting monetary policy.     

Impediments to Adoption of Green Products: An ISM Analysis

During the last decades of the twentieth century, industry and business leaders have recognized the importance of incorporating environmental sustainability in their business practices. This has resulted in emergence of new concepts such as green marketing and green consumerism. Over the years, various studies have explored the concept of green consumer behavior and have listed out factors that work as either barriers or enablers to consumer adoption of environmentally sustainable products. The present study identifies such barriers from the available body of literature and tries to construct a model using ISM (Interpretive Structural Modeling) to show how these different barriers interact and affect the consumer decision making regarding green products.     

A Simple Method of Incorporating Income Effects into Logit and Nested-Logit Models: Theory and Application

Substantive income effects are incorporated in a logit or nested-logit model by assuming that utility is a piece-wise linear spline function of residual income. Specific income data are not required, only income by category. Expected compensating variation is easily and accurately approximated by the difference between expected maximum utility in the proposed and initial state, multiplied by the inverse of the individual's initial marginal utility of money. This approximation is almost exact because although any policy can, in theory, cause an individual to jump income categories, for most policies this probability will be very small.     

Does a Consumer’s Religion Really Matter in the Buyer–Seller Dyad? An Empirical Study Examining the Relationship Between Consumer Religious Commitment,Christian Conservatism and the Ethical Judgment of a Seller’s Controversial Business Decision

Religion is an important cultural and individual difference variable. Yet, despite its obvious importance in consumers’ lives, religion in the United States has been under-researched. This study addresses that gap in the literature and investigates the influence of consumer religion in the buyer–seller dyad. Specifically, this study examines the influence of consumer religious commitment and a Christian consumer’s conservative beliefs in the United States on store loyalty when retailers make business decisions which are potentially reli- gious objectionable. This study uses structural equation modeling and applies Anderson and Gerbing’s (Psychol Bull 103(3):411–423, 1988) two-step approach to exam- ine data obtained from a national sample of 531 consumers. The results from this study suggest that consumers evaluate seller’s actions and form ethical judgments. These judgments are a major explanatory variable in consumer store loyalty intentions.     

Technology Adoption and Pest Control Strategies Among UK Cereal Farmers: Evidence from Parametric and Nonparametric Count Data Models

This paper examines the intensity of technology adoption and integrated pest management strategies employed by UK farmers, using both parametric and nonparametric methods. We employ a unique survey dataset collected from UK cereal farmers to assess the determinants of technology adoption in relation to pest management. Our preferred model specification is nonparametric, with models estimated yielding broadly similar results, with some important qualitative differences. All models indicate that total area farmed is positively related to the number of technologies adopted, whereas the number of years of experience of the farmer is negatively related. We also find evidence with our nonparametric specification of significant statistical differences for number of adoptions by region across the UK.     

Co-creation as a risk-sharing strategy for the development of innovative EUV lithography technology in the semiconductor industry

Co-creation is becoming an innovative way for new technology development (NTD). We propose a four-staged co-creation model drawn upon a backdrop of ‘knowledge cloud’ for value creation and long-term customer commitment resulting in risk-sharing associated with NTD. The model is elaborated through the case of a leading semiconductor lithography equipment manufacturer (ASML) developing a new extreme ultraviolet lithography technology by engaging the major stakeholders in customer co-investment programme. The model is generic and applicable to any technology-driven industry and may include more stakeholders of same or allied technology.     

Counterfeit proneness: Conceptualisation and scale development

Abstract

Counterfeiting is one of the fastest-growing industries in the world across a wide range of product categories, including music, movies, food, computer software, pharmaceuticals, fertilisers, and machinery parts. Prior research focuses on deceptive counterfeiting in which the consumers are not aware about buying counterfeit products, with little attention to non-deceptive counterfeiting in which consumers knowingly purchase counterfeit products. Most of this research is fragmented and exploratory in nature, resulting in mixed or inconclusive findings that leave many important questions unanswered. For example, it is still not clear why some customers are more prone to buying counterfeit products compared to others. We address this important gap by conceptualising counterfeit proneness (CFP), an individual-level psychological trait that relates closely with counterfeit purchase behaviour. We also develop a scale to measure this trait and validate it through a series of empirical studies. Finally, we discuss some limitations of our approach and directions for future research.     

Different strokes: regulatory styles and environmental strategy in the North‐American oil and gas industry

The environmental management and policy literature presents competing arguments for and against different styles of environmental regulations – command‐and‐control versus flexible regulations that enable voluntary actions. On the one hand, it is argued that firms will not adopt minimum environmental standards without command‐and‐control regulations and that such regulations may actually result in competitive benefits for first movers. On the other hand, the literature argues that command‐and‐control regulations stifle innovation and that flexible regulations encourage proactive environmental strategies that lead to competitive benefits for organizations. This study compared the environmental strategies and competitiveness of oil and gas firms in two different regulatory contexts – the command‐and‐control based US environmental regulations and the flexible collaborative Canadian context. The study found no significant differences in the degree to which firms within the two contexts were more or less proactive in their environmental strategies or in the extent of competitiveness associated with corporate environmental strategies. Follow‐up interviews with 12 Canadian and US companies indicated that regulations appeared to be more important drivers of corporate environmental practices at initial stages and eventually other external and internal drivers became more important influences on corporate environmental strategies. Copyright © 2001 John Wiley & Sons, Ltd and ERP Environment     

Cointegration of price measures: Evidence from the G-7

This study addresses index-dependency of empirical results associated with the purchasing power parity (PPP) relationship. Using four key price indices involving the G-7 nations, empirical tests for long-run co-movement are conducted. A test for linear restrictions is imposed. The speeds of adjustment are calculated for statistically significant linear combinations. The speed of the short-run response to disequilibrium differs both within and across countries. The seven-country average reveals that the CPI has the quickest recovery response to a one-time disturbance. The findings suggest that PPP results are not dependent upon the choice of index when an explicit set of indices is cointegrated.(JEL F3)